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Search Results 0 to 9 of about 10 (some duplicates have been removed)
obama and speaker boehner spoke on the phone yesterday for the first time in days. both men agreed not to publicly characterize how the conversation went. but the stalemate in negotiations entered new territory yesterday with treasury secretary tim geithner suggesting the white house is ready to go off the cliff if republicans refuse to raise taxes on the 2%. >> if republicans do not agree to that, is the administration prepared to go over the fiscal cliff? >> oh, absolutely. again, there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest americans -- remember, it's only 2%. the size of the problem in some sense is so large, it can't be solved without rates going up as part of that. again, i think there's broad recognition of that reality now. >> one fallback option republicans are reportedly considering is to accept tax cuts for the middle class, allow rates to go up for the wealthiest, and then start the fight over again during debt limit talks early next year. yesterday at a business roundtable of ceos, president obama took a
. keep doing. go long. >>> president obama and house speaker john boehner both talking today about the looming fiscal cliff. but not to each other. the president was making his case on the road while boehner was dismissing the white house proposal as a joke. cnn senior congressional correspondent dana bash joins us live from the capital. dana, what's the latest? >> reporter: well, joe, it turns out he laughed at geithner when he proposed the white house package which includes $1.6 trillion in tax increases. instead, today mcconnell floated to "the wall street journal" the idea of revenues by medicare and eligibility age, but democrats are very dug in. they say anything that doesn't include tax increases on the wealthy is a nonstarter. a day after getting a white house proposal the republicans greeted as a joke, they're not laughing. >> now, the white house took three weeks to respond with any kind of a proposal and much to my disappointment it wasn't a serious one. >> reporter: house speaker john boehner rushed to the cameras to respond to the president's campaign-style event at a
a crisis but it will require even more skill than talks between obama and boehner. >> i remember after reading k s kissi kissinger's book on china, a fascinating world view we are sort of evangelical about spreading democracy. china sees themselves as the center. no, you come to us. i said, is that true? do the chinese not want to sweep into europe? he said, no, you understand what the chinese want, look at the gdp number. it has to be at 9% or 10% or they feel they lose dprip on power. >> the narrative to any family in china if you look back about ten years they're better off. that's when the real problems set in. >> what are the poll outlets or ways that this country, that america can have sort of a resurgence in manufacturing. >> the natural gas boom and things like that placing an emphasis on speed. if you have an idea for a new product you want to get to market five weeks from now, it's possible to do that better in california, in texas and boston rather than going to hong kong. >> that's very -- >> you did mention on the list one of the things that the obama administration loves
and was criticizing boehner for rolling over as he saw it on the deal with obama. >> everybody is playing this down. i don't. eric ericsson wrote his supporters an e-mail saying this, without jim demint we would most likely not presently have in the united states senate pat tomby, rand paul, mike lee, marco rubio, jeff flake, ron johnson, ted cruz. we had not have a republican establishment that worries that conservatives might actually primary them. de menthe also had backed candidates who went on to lose their general elections. richard mourdock in indiana, christine o'donnell in delaware, ken buck out in colorado. bob, i'm going to back to this again. when the chief ramrod of the rift wing senate candidates leaves the post, who would replace him? how is this good news for the right? >> look, i'm not saying whether it's good news or bad news, i'm tell you what i think his calculation is. his calculation is he can be more of a free agent. i think he will get very involved in primaries, he will push hard right issues. i wish him well because the candidates e succeeded in nominating have quite often lo
in that awful tragedy of a storm. i am not -- i have not looked at mr. nadler's bill >> president obama spoke in pennsylvania today calling on congress to pass an extension of tax cuts for the middle class. later in the day, john boehner of s on to the president's comments. you can see both events starting at 8:00 eastern on c-span. in january, tax credits are scheduled to expire, along with tax credits for businesses. we look at the issue this morning on this morning's "washington journal." host: we are looking at various aspects at the so-called fiscal cliff. joining us for the discussion is steven sloan. he is with politico. could you define what a tax credit is and how that differs from a tax deduction? guest: credits and deductions are used to lower somebody's tax bill. if you have it $1,000 tax bill -- basically reduces taxable income, so it takes the taxable income off the top. if you have a $1,000 tax deduction, that is basically a $250 deduction. host: on their tax credits that specifically affect families? guest: some that have expired that are part of the fiscal cliff package. gues
are at a virtual impasse when it comes to entitlement benefits and tax hikes. and while president obama is sending timothy geithner over to capitol hill today the president himself was supposed to meet with john boehner this week but now it seems he has no plans of doing that. but politico is reporting this morning that the top officials who have been working on this deal behind the scenes for months now said they are starting to get together an outline of an agreement. if all of that does go through here's what we can expect. for one taxes will go up by about $1.2 trillion. president obama has called for a $1.6 trillion tax hike over the next decade. this is right about in the middle of what democrats want and what republicans say they're willing to give. people making more than $250,000 a year should see limited deductions and loopholes and they'll most likely see a rise in their rates as well. as for entitlement benefits and this mainly goes for medicare, those will be cut by at least $400 billion and potentially a lot m
Search Results 0 to 9 of about 10 (some duplicates have been removed)

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